Intact Financial Corporation · TSX:IFC
Intact Financial — Q2 2023 Earnings Presentation
15 slides from Intact Financial's earnings presentation, Aug 3, 2023
Slide 1: Q2-2023 Review of Performance
Make it Intact Intact Financial Corporation (TSX: IFC) Q2-2023 Review of Performance Thursday, August 3, 2023
Slide 2: Forward-looking statements
Forward-looking statements Certain of the statements included in this presentation about the Company’s current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statemen
Slide 3: Disclaimer
Disclaimer This presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitm
Slide 4: Charles Brindamour
Charles Brindamour Chief Executive Officer 4 Q2-2023 Review of Performance
Slide 5: Key points & highlights
Key points & highlights $2.30 $1.30 +6% constant currency NOIPS 1 EPS Operating DPW 1 Growth down 30% compared to last year due to elevated CAT decreased year-over-year as Q2-2022 included the +7% excluding strategic exits losses, partially offset by higher investment income sale of Codan Denmark an
Slide 6: Q2-2023 Canadian results
Q2-2023 Canadian results Operating DPW growth1 Combined ratio (undiscounted)1 Industry outlook2 +6% 91.2% Industry premiums expected to grow Personal Auto high single-digit rate actions and an in line with our seasonally adjusted sub-95 in the high single-digit range improving unit trajectory expect
Slide 7: Q2-2023 UK&I and US results
Q2-2023 UK&I and US results Operating DPW growth Combined ratio (undiscounted)1 Industry outlook2 (constant currency)1 UK&I (7)% 98.0% UK property: rate increases in firming Personal market conditions Ireland property: low single-digit rate UK&I Personal +6% excluding the exit of the UK in line with
Slide 8: Progress on our strategic roadmap
Progress on our strategic roadmap Canada UK & Ireland Global Specialty Consolidating Anthony Insurance and In Commercial Lines, launched a new Strengthened our pricing and risk selection Johnson Insurance under belairdirect, proposition with key broker partners to capabilities by implementing two ne
Slide 9: Louis Marcotte
Louis Marcotte Executive Vice President & Chief Financial Officer 9 Q2-2023 Review of Performance
Slide 10: Q2-2023 Underwriting review
Q2-2023 Underwriting review Combined ratio1 of 92.2% (96.3% undiscounted) Catastrophe losses 92.2% (discounted) 88.0% • Q2-2023 total current year CAT losses of $421 million, double the expected level in the (discounted) quarter but within our historical range • No change to our annual $700 million
Slide 11: Operating income
Operating income Net operating income attributable to common shareholders1 (31)% Net operating income attributable to common shareholders of $402 million was lower than Q2-2022, driven by higher current year CAT losses and the impact from 581 lower net discounting. 502 402 Operating net investment i
Slide 12: Value creation of the RSA acquisition
Value creation of the RSA acquisition ▪ Q2-2023 marks the 2-year anniversary of the RSA Acquisition and value creation has exceeded expectations to date. ▪ On track to realize $350 million of pre-tax annual run-rate synergies and approximately 20% of NOIPS1 accretion by mid-2024. ▪ As at June 30, 20
Slide 13: Maintaining a Strong Balance Sheet
Maintaining a Strong Balance Sheet Sustaining a strong capital position Managing leverage Managing volatility Total capital margin1, 2 Adjusted debt-to-total capital ratio1,3 Book value per share1,4 $2.5B 22.5% $76.29 • Decreased by $0.3 billion, driven by elevated CAT • Relatively stable and in lin
Slide 14: Q&A
Q&A Q&A
Slide 15: Contact us
Contact us Investor Inquiries Intact Financial Corporation 700 University Avenue Toronto, ON M5G 0A1 ir@intact.net www.intactfc.com Investor Relations Shubha Khan Vice President, Investor Relations 1 (416) 341-1464 ext. 41004 shubha.khan@intact.net Media Inquiries David Barrett Director, Media, Soci